“Insured natural catastrophe losses hit USD 125 billion in 2022, with about half from Hurricane Ian. But Ian was no fluke storm. Its high cost stems largely from its landfall in fast-growing coastal Florida. Rising exposures in places like this, coupled with surging economic inflation, send a clear signal to re/insurers: We must remain vigilant […]
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On 5 June 2023, people around the globe are celebrating World Environment Day, a day to raise awareness for the protection of the environment. In honour of this day, ICMIF is proud to showcase some of the remarkable initiatives undertaken by its members to safeguard the environment and protect local communities. Embedding sustainability into strategy […]
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“The climate risk landscape is continually evolving, and globally there has been a greater desire from the market to provide new solutions with climate risk impacting the financial strength and creditworthiness of a re/insurer,” writes Andrea Keenan, Chief Strategy Officer at ICMIF Supporting Member AM Best. We are pleased to share this guest blog from […]
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Mami Mizutori is Special Representative of the UN Secretary-General for Disaster Risk Reduction and Head of the United Nations Office for Disaster Risk Reduction (UNDRR), one of ICMIF’s partner organisations. In November 2019, ICMIF and UNDRR began a multi-year collaboration to help address the urgent challenge of reducing disaster risks. This work, with collaboration from our members, […]
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“There’s no doubt that the time is now for embedded insurance as insurers and other companies try to unlock value from seamlessly weaving insurance into purchase, use and upkeep of assets and services. A confluence of societal trends and market forces – from technology advancements and pervasive connectivity to shifting consumer needs and evolving growth […]
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“Parametric insurance is not a new concept. Such products and solutions have been in existence for more than 20 years. On the African continent, however, parametric insurance is relatively new but becoming ever more crucial to climate resilience” writes Lesley Ndlovu, Chief Executive Officer, African Risk Capacity (ARC, South Africa). We are pleased to share […]
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In a rapidly changing world that is ever more complex, on a planet that is getting warmer, and at a time when we have to focus on performance and people in equal measure, the status quo is no longer an option. Earlier this year, Geneviève Fortier, CEO of Canadian ICMIF member Promutuel Insurance, explained during […]
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“Artificial Intelligence (AI) is all over the news and the AI market is expected to grow to USD 15 trillion by 2030 – that’s three times the size of the mobile market. Contrary to what many people think, AI is not only for tech companies; it is getting into all types and sizes of businesses. […]
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ICMIF member companies with over 30% women on their boards outperformed the total ICMIF membership in terms of 5-year and 10-year premium growth. This was the key finding when ICMIF compared the latest financial performance of its membership through its research on the gender diversity of its members’ boards of directors. Ahead of International Women’s […]
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“Insurers and reinsurers face a tremendous amount of change and uncertainty, and that uncertainty only continues to grow in speed and complexity. Given this context, it is more important than ever for organisations to anticipate emerging trends and the risks that they pose to strategy,” writes Lorie Graham, Senior Vice President and Chief Risk Officer […]
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